First test for the Obamabots

lupi

Lifer
Apr 8, 2001
32,539
260
126
da readThere are several threads discussing how he is going to save the economy and erase are deficit, fix washington spending etc...

Yet here before he is even president he is calling for an additional $50 billion in spending. What program is being cut to do this?


NEW YORK (CNNMoney.com) -- On the first day of what is to be a two-week economic tour around the country, Barack Obama said Monday that lawmakers should inject another $50 billion immediately into the sluggish U.S. economy.

The presumptive Democratic presidential nominee cited the largest monthly increase in the unemployment rate in over 20 years, and record highs in oil prices, food prices and foreclosures.

"Such relief can't wait until the next president takes office. ... That's why I've called for another round of fiscal stimulus, an immediate $50 billion to help those who've been hit hardest by this economic downturn," Obama told a crowd in Raleigh, N.C.

He said that he supports the expansion and extension of unemployment benefits, as well as a second round of tax rebate checks.

Last week, Democratic leaders on Capitol Hill said that the latest unemployment rate shows that Congress and the Bush administration need to do more to help workers and the unemployed. And they called for a second round of fiscal stimulus.

An economic stimulus package that passed in early February featured tax rebates that are now being sent to more than 130 million Americans. On Friday, the Treasury Department reported that so far it has sent out nearly 67 million stimulus payments worth approximately $57 billion.

Extending unemployment insurance benefits was one measure tossed out of that legislation, but it's considered a leading contender if more stimulus is put in place. One bill, expected to go to the House floor for consideration this week, calls for an additional 13 weeks of benefits to be added to what is typically a 26-week cap on federal payments. In addition, it calls for 13 weeks on top of that for workers in states with very high unemployment rates.

Obama didn't offer details about how much money could go toward rebates and how much would be used to pay for benefits extensions. But the $50 billion in total stimulus that he's calling for represents less than a third of the $170 billion earmarked for the first stimulus package, the bulk of which is being spent on rebates. And the jury is still out on how successful those rebates will be stimulating the economy.



 

RichardE

Banned
Dec 31, 2005
10,246
2
0
Or he is expressing support for an already incoming additional stimulus package?

Personally the stimulus package is faulty in that its not really stimulating anything besides lowering the personal debt which really does nothing. They were a bad idea to begin with. Or can someone else chime in with why reducing personal debt will aid the economy in the long run?
 

fskimospy

Elite Member
Mar 10, 2006
86,722
52,542
136
You are a strange creature. You realize stimulus packages like this are by definition one time expenditures that are designed to be financed through government debt in the hopes that they would have a greater positive effect in heading off an economic recession? I mean you can think the stimulus package is a bad idea, but asking what programs would be cut to pay for it is retarded. Shocking, another subject you are desperately flailing about with in order to attack Obama.
 

AnnonUSA

Senior member
Nov 18, 2007
468
0
0
Well like all government bloat programs, Taxes will have to pay for this. That's why it's called Tax and Spend. And it's obvious that Obama's "change" does not apply to the Democratic Tax and Spend machine.
 

glenn1

Lifer
Sep 6, 2000
25,383
1,013
126
Originally posted by: lupi
da readThere are several threads discussing how he is going to save the economy and erase are deficit, fix washington spending etc...

Yet here before he is even president he is calling for an additional $50 billion in spending. What program is being cut to do this?


NEW YORK (CNNMoney.com) -- On the first day of what is to be a two-week economic tour around the country, Barack Obama said Monday that lawmakers should inject another $50 billion immediately into the sluggish U.S. economy.

The presumptive Democratic presidential nominee cited the largest monthly increase in the unemployment rate in over 20 years, and record highs in oil prices, food prices and foreclosures.

"Such relief can't wait until the next president takes office. ... That's why I've called for another round of fiscal stimulus, an immediate $50 billion to help those who've been hit hardest by this economic downturn," Obama told a crowd in Raleigh, N.C.

He said that he supports the expansion and extension of unemployment benefits, as well as a second round of tax rebate checks.

Last week, Democratic leaders on Capitol Hill said that the latest unemployment rate shows that Congress and the Bush administration need to do more to help workers and the unemployed. And they called for a second round of fiscal stimulus.

An economic stimulus package that passed in early February featured tax rebates that are now being sent to more than 130 million Americans. On Friday, the Treasury Department reported that so far it has sent out nearly 67 million stimulus payments worth approximately $57 billion.

Extending unemployment insurance benefits was one measure tossed out of that legislation, but it's considered a leading contender if more stimulus is put in place. One bill, expected to go to the House floor for consideration this week, calls for an additional 13 weeks of benefits to be added to what is typically a 26-week cap on federal payments. In addition, it calls for 13 weeks on top of that for workers in states with very high unemployment rates.

Obama didn't offer details about how much money could go toward rebates and how much would be used to pay for benefits extensions. But the $50 billion in total stimulus that he's calling for represents less than a third of the $170 billion earmarked for the first stimulus package, the bulk of which is being spent on rebates. And the jury is still out on how successful those rebates will be stimulating the economy.


Rather than extending unemployment benefits, why not use that $50B to move people out of areas with high unemployment to areas where there are actually jobs?
 

RichardE

Banned
Dec 31, 2005
10,246
2
0
Originally posted by: AnnonUSA
Well like all government bloat programs, Taxes will have to pay for this. That's why it's called Tax and Spend. And it's obvious that Obama's "change" does not apply to the Democratic Tax and Spend machine.

Isn't this the republicans taxing and spending? :confused:

Oh right, there just printing money off instead of raising taxes. Much better idea, but at least it keeps you guys all pacified in your belief you can have all these goodies and never see a raise in taxes!

**I know, lets throw another 200billion in debt in cash to the people, make the republicans look good, put off the debt till..oooooo Dec 2008 and than the dems can take the blame and bam, were back in for 2012!**

It would be funny if I couldn't see it happening.

Btw, if Obama has disagreed with this he would have been slandered again with the "hard working cash strapped blue collar folk!". Guy can't win heh.
 

lupi

Lifer
Apr 8, 2001
32,539
260
126
Originally posted by: eskimospy
You are a strange creature. You realize stimulus packages like this are by definition one time expenditures that are designed to be financed through government debt in the hopes that they would have a greater positive effect in heading off an economic recession? I mean you can think the stimulus package is a bad idea, but asking what programs would be cut to pay for it is retarded. Shocking, another subject you are desperately flailing about with in order to attack Obama.

As your fellow sheeple keep linking for me, Pay-As-You-Go.
 

Bitek

Lifer
Aug 2, 2001
10,676
5,238
136
Originally posted by: eskimospy
You are a strange creature. You realize stimulus packages like this are by definition one time expenditures that are designed to be financed through government debt in the hopes that they would have a greater positive effect in heading off an economic recession? I mean you can think the stimulus package is a bad idea, but asking what programs would be cut to pay for it is retarded. Shocking, another subject you are desperately flailing about with in order to attack Obama.

Thanks for that.

In other words, its spending a dime to save a dollar. How much it will help is debatable, but the line you are taking is daft, ignorant and ripe for ownage. No wonder you are voting for "I don't know much about the economy" McCain.

:thumbsup: loopy
 

nageov3t

Lifer
Feb 18, 2004
42,808
83
91
Barack Obama said Monday that lawmakers should inject another $50 billion immediately into circuses to quell the masses

fixed.

if the first hand-out did nothing, what's another one going to do?
 

AnnonUSA

Senior member
Nov 18, 2007
468
0
0
Originally posted by: RichardE
Originally posted by: AnnonUSA
Well like all government bloat programs, Taxes will have to pay for this. That's why it's called Tax and Spend. And it's obvious that Obama's "change" does not apply to the Democratic Tax and Spend machine.

Isn't this the republicans taxing and spending? :confused:

Oh right, there just printing money off instead of raising taxes. Much better idea, but at least it keeps you guys all pacified in your belief you can have all these goodies and never see a raise in taxes!

**I know, lets throw another 200billion in debt in cash to the people, make the republicans look good, put off the debt till..oooooo Dec 2008 and than the dems can take the blame and bam, were back in for 2012!**

It would be funny if I couldn't see it happening.

Btw, if Obama has disagreed with this he would have been slandered again with the "hard working cash strapped blue collar folk!". Guy can't win heh.

I didn't mean to excuse the Republicans for their idiotic practices. Of course it is them that got us here in the first place, although it is funny that many people don't realize that GW Bush inherited this failing economy from the Clinton years. Clinton's 90's economy was created by policies put in place before him, he just knew how to ride the stock market wave. Clintons biggest mistake was to spend vast amounts of money because of projected surplus amounts. When the market started adjusting in late 1999 and early 2000 the Surpluses were found to be fictitious.

GW Bush then threw everything in the well with poor Federal reserve practices and knee jerk Military vendettas and fear that got us the war on Terror.

Stimulus packages do not work, and for Republicans or Democrats to suggest and support them, is nothing more than a thinly veiled attempt to buy votes. True stimulus would be a true tax cut or tax holiday, not handing out "taxable Income" in the hopes people will run out and buy foreign made goods for a week or two....

 

lupi

Lifer
Apr 8, 2001
32,539
260
126
Originally posted by: Hafen
Originally posted by: eskimospy
You are a strange creature. You realize stimulus packages like this are by definition one time expenditures that are designed to be financed through government debt in the hopes that they would have a greater positive effect in heading off an economic recession? I mean you can think the stimulus package is a bad idea, but asking what programs would be cut to pay for it is retarded. Shocking, another subject you are desperately flailing about with in order to attack Obama.

Thanks for that.

In other words, its spending a dime to save a dollar. How much it will help is debatable, but the line you are taking is daft, ignorant and ripe for ownage. No wonder you are voting for "I don't know much about the economy" McCain.

:thumbsup: loopy

Mask it however you want, all it shows is the great politician of hope is again doing politics of usual and goes to the pandering well in direct opposition to his posted guidelines of hope.
 

preslove

Lifer
Sep 10, 2003
16,754
63
91
Originally posted by: lupi
Originally posted by: eskimospy
You are a strange creature. You realize stimulus packages like this are by definition one time expenditures that are designed to be financed through government debt in the hopes that they would have a greater positive effect in heading off an economic recession? I mean you can think the stimulus package is a bad idea, but asking what programs would be cut to pay for it is retarded. Shocking, another subject you are desperately flailing about with in order to attack Obama.

As your fellow sheeple keep linking for me, Pay-As-You-Go.

People aren't sheep because they actually know what they talk about, you ignorant fool.
 

Genx87

Lifer
Apr 8, 2002
41,091
513
126
This thread is going to deliver. I'll enjoy watching the apologists who attacked Bush over the last round of stimulus checks excuse it for Obama.
 

Robor

Elite Member
Oct 9, 1999
16,979
0
76
"Such relief can't wait until the next president takes office. ... That's why I've called for another round of fiscal stimulus, an immediate $50 billion to help those who've been hit hardest by this economic downturn," Obama told a crowd in Raleigh, N.C.

Who is the 'those' he's talking about here and how much are they going to get? What is the qualification for this?
 

Delita

Senior member
Jan 12, 2006
931
0
76
Originally posted by: eskimospy
You are a strange creature. You realize stimulus packages like this are by definition one time expenditures that are designed to be financed through government debt in the hopes that they would have a greater positive effect in heading off an economic recession? I mean you can think the stimulus package is a bad idea, but asking what programs would be cut to pay for it is retarded. Shocking, another subject you are desperately flailing about with in order to attack Obama.

Another Keynesian. I though you guys learned your lesson in the the 70's.
 

RightIsWrong

Diamond Member
Apr 29, 2005
5,649
0
0
Originally posted by: Delita
Originally posted by: eskimospy
You are a strange creature. You realize stimulus packages like this are by definition one time expenditures that are designed to be financed through government debt in the hopes that they would have a greater positive effect in heading off an economic recession? I mean you can think the stimulus package is a bad idea, but asking what programs would be cut to pay for it is retarded. Shocking, another subject you are desperately flailing about with in order to attack Obama.

Another Keynesian. I though you guys learned your lesson in the the 70's.

And we thought that you Reaganomics/Trickle Down/Voodoo Economics guys learned your lesson in the 80's but alas, the cycle repeats itself.

Personally, I welcome the cash to pay an extra chunk on my mortgage. Politically, I think that it is pandering disguised as assistance to the bottom feeders...like me. :)
 

lupi

Lifer
Apr 8, 2001
32,539
260
126
Originally posted by: Genx87
This thread is going to deliver. I'll enjoy watching the apologists who attacked Bush over the last round of stimulus checks excuse it for Obama.

Bingo
 

lupi

Lifer
Apr 8, 2001
32,539
260
126
Originally posted by: Robor
"Such relief can't wait until the next president takes office. ... That's why I've called for another round of fiscal stimulus, an immediate $50 billion to help those who've been hit hardest by this economic downturn," Obama told a crowd in Raleigh, N.C.

Who is the 'those' he's talking about here and how much are they going to get? What is the qualification for this?

I'm sure it's not that wage group that was voting 75-25 for Clinton over the last dozen primary elections. Nope, no way would this be about pandering.
 

Delita

Senior member
Jan 12, 2006
931
0
76
Originally posted by: RightIsWrong
Originally posted by: Delita
Originally posted by: eskimospy
You are a strange creature. You realize stimulus packages like this are by definition one time expenditures that are designed to be financed through government debt in the hopes that they would have a greater positive effect in heading off an economic recession? I mean you can think the stimulus package is a bad idea, but asking what programs would be cut to pay for it is retarded. Shocking, another subject you are desperately flailing about with in order to attack Obama.

Another Keynesian. I though you guys learned your lesson in the the 70's.

And we thought that you Reaganomics/Trickle Down/Voodoo Economics guys learned your lesson in the 80's but alas, the cycle repeats itself.

Personally, I welcome the cash to pay an extra chunk on my mortgage. Politically, I think that it is pandering disguised as assistance to the bottom feeders...like me. :)

Nice assumption to my particular school of economic thought. Maybe one day you'll be able to build an argument on facts instead of assumptions that fit your side. Too bad you make yourself look like an idiot, not to mention self proclaimed bottom feeder.
 

RightIsWrong

Diamond Member
Apr 29, 2005
5,649
0
0
Originally posted by: Delita
Originally posted by: RightIsWrong
Originally posted by: Delita
Originally posted by: eskimospy
You are a strange creature. You realize stimulus packages like this are by definition one time expenditures that are designed to be financed through government debt in the hopes that they would have a greater positive effect in heading off an economic recession? I mean you can think the stimulus package is a bad idea, but asking what programs would be cut to pay for it is retarded. Shocking, another subject you are desperately flailing about with in order to attack Obama.

Another Keynesian. I though you guys learned your lesson in the the 70's.

And we thought that you Reaganomics/Trickle Down/Voodoo Economics guys learned your lesson in the 80's but alas, the cycle repeats itself.

Personally, I welcome the cash to pay an extra chunk on my mortgage. Politically, I think that it is pandering disguised as assistance to the bottom feeders...like me. :)

Nice assumption to my particular school of economic thought. Maybe one day you'll be able to build an argument on facts instead of assumptions that fit your side. Too bad you make yourself look like an idiot, not to mention self proclaimed bottom feeder.

And your assumption that everyone who supports Obama is a Keynesian is based on what facts?

And compared to the top 5% of wage earners....my $95k salary does put me at the bottom. Too bad you actually think that you are above your lot in life when you are even more meaningless because you are unable to admit the truth to yourself.
 

Delita

Senior member
Jan 12, 2006
931
0
76
Originally posted by: RightIsWrong
Originally posted by: Delita
Originally posted by: RightIsWrong
Originally posted by: Delita
Originally posted by: eskimospy
You are a strange creature. You realize stimulus packages like this are by definition one time expenditures that are designed to be financed through government debt in the hopes that they would have a greater positive effect in heading off an economic recession? I mean you can think the stimulus package is a bad idea, but asking what programs would be cut to pay for it is retarded. Shocking, another subject you are desperately flailing about with in order to attack Obama.

Another Keynesian. I though you guys learned your lesson in the the 70's.

And we thought that you Reaganomics/Trickle Down/Voodoo Economics guys learned your lesson in the 80's but alas, the cycle repeats itself.

Personally, I welcome the cash to pay an extra chunk on my mortgage. Politically, I think that it is pandering disguised as assistance to the bottom feeders...like me. :)

Nice assumption to my particular school of economic thought. Maybe one day you'll be able to build an argument on facts instead of assumptions that fit your side. Too bad you make yourself look like an idiot, not to mention self proclaimed bottom feeder.

And your assumption that everyone who supports Obama is a Keynesian is based on what facts?

And compared to the top 5% of wage earners....my $95k salary does put me at the bottom. Too bad you actually think that you are above your lot in life when you are even more meaningless because you are unable to admit the truth to yourself.

Wow you are clueless. My original comment was towards eskimo not towards "everyone who supports Obama"

Oh and I must have missed the part where I said I thought I was above my lot in life.

Keep trying though.
 

RightIsWrong

Diamond Member
Apr 29, 2005
5,649
0
0
Originally posted by: Delita
Originally posted by: RightIsWrong
Originally posted by: Delita
Originally posted by: RightIsWrong
Originally posted by: Delita
Originally posted by: eskimospy
You are a strange creature. You realize stimulus packages like this are by definition one time expenditures that are designed to be financed through government debt in the hopes that they would have a greater positive effect in heading off an economic recession? I mean you can think the stimulus package is a bad idea, but asking what programs would be cut to pay for it is retarded. Shocking, another subject you are desperately flailing about with in order to attack Obama.

Another Keynesian. I though you guys learned your lesson in the the 70's.

And we thought that you Reaganomics/Trickle Down/Voodoo Economics guys learned your lesson in the 80's but alas, the cycle repeats itself.

Personally, I welcome the cash to pay an extra chunk on my mortgage. Politically, I think that it is pandering disguised as assistance to the bottom feeders...like me. :)

Nice assumption to my particular school of economic thought. Maybe one day you'll be able to build an argument on facts instead of assumptions that fit your side. Too bad you make yourself look like an idiot, not to mention self proclaimed bottom feeder.

And your assumption that everyone who supports Obama is a Keynesian is based on what facts?

And compared to the top 5% of wage earners....my $95k salary does put me at the bottom. Too bad you actually think that you are above your lot in life when you are even more meaningless because you are unable to admit the truth to yourself.

Wow you are clueless. My original comment was towards eskimo not towards "everyone who supports Obama"

Oh and I must have missed the part where I said I thought I was above my lot in life.

Keep trying though.

I took your "another Keynesian" to be attributed directly at Obama and his supporters and not specifically Eskimo.

Sorry for the miscommunication.
 

pstylesss

Platinum Member
Mar 21, 2007
2,914
0
0
It's obvious McCain needs to propose 100B in a new stimulus. This is simply pandering and vote buying, ridiculous. Everyone thought the stimulus was a waste of money the first time, but now that Obama is proposing it it's a good thing?
 

seemingly random

Diamond Member
Oct 10, 2007
5,277
0
0
The republicrits seem to forget that they lauded bush several years ago for doing the same thing. I guess it's not the message but who delivers it. Pretty transparent.